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This article was published 13/2/2014 (927 days ago), so information in it may no longer be current.
Shareholders of Cangene Corp. have approved the sale of the company to Emergent BioSolutions of Rockville, Maryland.
The sale, which was originally announced in mid-December, was approved by 99.95 per cent of the votes cast at a shareholder meeting in Toronto late Wednesday afternoon.
The acquisition will be implemented through a plan of arrangement under Canadian law, under which Cangene shareholders will receive $3.571 per share ($3.24 US) in cash, for an aggregate purchase price of $245 million ($222 million US).
Completion of the transaction remains subject to approval by the Ontario Superior Court of Justice at a hearing scheduled for February 18, 2014. The transaction is expected to close before the end of February 2014.